Apple said they didn’t care for copy and paste. Now, MacNN are saying that, well, they are saying this:

Apple may already be laying the groundwork for several important
updates in the next major iteration of iPhone firmware, according to
multiple sources. One notes that in exploring the Localizable.strings
entry under English.lproj in the current iPhone WebKit framework, there
are entries for several commands the firmware does not currently
support, including cutting, copying and pasting. Apple has expressed interest in adding the feature, but has not set a timeframe.

The firmware also contains a reference to a “mobile radio” function, which could indicate that Apple hopes to support native Internet radio, instead of through third-party apps.

Another source claims to have obtained a beta of v2.1 firmware,
said to be in distribution for developers only. Among the features in
this are alleged to be expanded Core Location items, including means
for gauging the direction a person is headed, and their velocity. In
theory, this could allow turn-by-turn GPS navigation. The update also appears to have an early implementation of Apple’s background push notification, a means of imitating background processes without the corresponding battery drain or decline in CPU
performance. Apple has said that full support for push notification
will only arrive in September however, which could suggest when v2.1
will be delivered via iTunes.

In the meantime Apple is believed to be preparing a v2.0.1 update, addressing bugs only.